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Alberta Economic Fundamentals

Crumbling roads getting $1.9B patch

The Stelmach government is pouring $1.9 billion into provincial highways this year -- $420 million more than last year -- but the state of Alberta`s roads is expected to continue to deteriorate.

Budget numbers released last week reveal the government will invest about $1.9 billion in provincial roads this year, including building the Calgary and Edmonton ring roads, and twinning parts of Highway 63 to Fort McMurray.

http://www.canada.com/calgaryherald/news/s...3d-cd9010e58dff
 
Council girds for final tax battle

Some aldermen may make a last-minute bid today to change how much property tax Calgarians will pay this year, but city council is expected to back an average increase of $106.

The thumbs-up won`t be done without reservation, however, after several aldermen said they`re frustrated the province hiked its share of the tax in the provincial budget last week.

http://www.canada.com/calgaryherald/news/c...c8-7398f4ab5d9f
 
$150 a barrel oil and other upsides

How long will commodity prices keep rising quickly? Ask China. Ask America.

The current spike in prices is because China is building 10 or 20 New York Cities in the next decade and needs more of everything. India`s not far behind.
But the big jump has been since August and the credit meltdown and near-panic which caused the U.S. Fed to slash interest rates a couple of times and tank the U.S. dollar. Because commodities are denominated in U.S. dollars it means that prices are up because it takes more declining U.S. dollars to buy the same stuff.

http://network.nationalpost.com/np/blogs/f...-chappaqua.aspx
 
Colleges casting wider net for students

Two Central Albertan colleges are reaching into larger markets, using humour and candour to recruit students.

"The landscape has changed in the post-secondary institution range," said Janet Gilmore, associate vice-president of Red Deer College marketing and communications. "We decided to go fishing in a bigger pond."

http://www.albertalocalnews.com/reddeeradv...r_students.html
 
Uphill battle for gravel pit

Opponents of a gravel pit proposed for the North Saskatchewan River valley in southwest Edmonton are holding a public meeting tonight they expect will draw at least 1,000 people.

This event is the latest move by a group that has hired a lawyer, set up a website and tried to rally support to stop a Qualico Development project it fears will harm the environment and create noise, dust and traffic-safety problems.

http://www.canada.com/edmontonjournal/news...b0a&k=80863
 
Demand for industrial space up around Calgary

CALGARY - Although leasing activity was slower in the first quarter of this year in industrial real estate, demand for large bay space continues to be strong, says a new report on the market.

Colliers International in Calgary said industrial vacancy for the first three months of 2008 was 2.19 per cent, rising almost half a percentage over the last quarter.

http://www.canada.com/calgaryherald/news/s...de1&k=24389
 
Forestry industry facing interesting times

Some lumber mills may be slowing down or shutting down as the northern Alberta forestry industry reacts to slowing market conditions in the U.S.

But the facts remain: forestry is an important economic driver in Northern Alberta, so much so Tolko is about to open a new mill in Slave Lake.

http://www.canada.com/edmontonjournal/feat...125&k=96108
 
Tourism in the North

A brief look at some selected main tourist sites in northern Alberta:

Heritage Park in Fort McMurray preserves the area`s early history, from an early 1900s trapper`s cabin and Catholic mission to a drugstore from the 1930s. For a look at history as it is being written, the Oil Sands Discovery Centre in Fort McMurray reveals exactly how that oily gunk is turned into black gold. And for a real up close and personal look, tours of the oil sands can be arranged through Fort McMurray Tourism.

http://www.canada.com/edmontonjournal/feat...cc8&k=93044
 
Edmonton not our gateway, angry northerners say

EDMONTON - Restricted access to the City Centre Airport continues to irritate northern Alberta communities looking for easier access to business and medical appointments in Edmonton, northerners say.

Regular scheduled flights can only carry no more than 10 passengers in and out of the airport in the middle of the city of Edmonton. That makes airfares expensive and discourages passenger traffic, northerners say,

http://www.canada.com/edmontonjournal/feat...26d&k=23557
 
QUOTE (joeiannuzzi @ Apr 28 2008, 04:42 PM) Edmonton not our gateway, angry northerners say

EDMONTON - Restricted access to the City Centre Airport continues to irritate northern Alberta communities looking for easier access to business and medical appointments in Edmonton, northerners say.

Regular scheduled flights can only carry no more than 10 passengers in and out of the airport in the middle of the city of Edmonton. That makes airfares expensive and discourages passenger traffic, northerners say,

http://www.canada.com/edmontonjournal/feat...26d&k=23557

I totally agree. Most cities around the world wish they have a small commuter airport that close to their Central Business District... and back in the day Mayor Jan Reimer shut it down to build housing... how`s that coming along.

it is time we rescued this Edmonton Gem and started to use it like the amazing city asset that it is. Restrict flights to certain times of the day and certain sound regulated aircraft and lets start building Edmonton as even more of a gateway than it is already.
 
Many initiatives in council plan

City taxpayers could see less than the originally forecasted $7.40 per month property tax increase following yesterday`s indication from the provincial government that education requisitions are greater than originally anticipated.

"Our first indications are that the growth of Medicine Hat may outpace what we`ve required in dollars," city CAO Gerry Labas explained to the News Thursday.. "On that basis, we`re pretty confident that the $7.40 will be less, and we`ll know the exact amount within the next week."

http://www.mdhnews.com/content/view/18779/27/
 
City council approves 5.4% tax hike

The average Calgary homeowner will pay an extra $106 in property taxes this year after city council approved a 5.4 per cent increase amid concerns future hikes could be even higher.

On Monday, council members passed the 2008 tax rate -- including a 4.5 per cent increase on the municipal portion of the bill and a 6.5 per cent hike in provincial education taxes.

http://www.canada.com/calgaryherald/news/c...b2-aeda2b34620d
 
3.3% growth puts Alberta among top performers

The global natural resources boom helped keep Alberta near the head of the Canadian pack in economic growth in 2007, Statistics Canada reported Monday, with real growth of 3.3 per cent.

The report came ahead of the release today from the Canada West Foundation of a poll showing Albertans are the most confident in Canada about their province`s economy, with nine of 10 saying conditions are excellent or good. The poll of 4,000 people indicates Westerners as a group are relatively positive, noted Canada West director of research Robert Roach.

http://www.canada.com/calgaryherald/news/c...66-c484fb900df8
 
Syncrude plans expansion

Syncrude Canada Ltd. may accelerate expansion plans to raise production as high as 700,000 barrels per day due to higher oil prices and last month`s upgrade of the joint-venture`s resource estimate.

"The potential is there but it will depend a lot on what kind of technologies we select, where are we going implement them, over what period of time and how can we most economically extract this resource," said Marcel Coutu, president and CEO of Canadian Oil Sands Trust, which owns the biggest piece of the pioneering oilsands consortium.

http://www.canada.com/calgaryherald/news/c...ef-d342eb387582
 
Taxes hiked by 7%

Red Deer residents will see their property taxes rise an average of seven per cent after city council unanimously approved the increase Monday.

Mayor Morris Flewwelling called this year`s tax increase a "fair one" for residents because it will help deal with inflation and growth pressures.

Last year`s property tax raise was 6.2 per cent.

http://www.albertalocalnews.com/reddeeradv...hiked_by_7.html
 
Shopping centre open within months

It`s a construction site now, but in a few months 6130 67th St. will be a place where you`ll be able to do a little banking, grab some Asian food and perhaps even undergo dental work.

The Bank of Montreal is targeting an Aug. 18 opening for its new branch in the Red Deer shopping centre, said Wes Taylor, the bank`s vice-president of south/central/north Alberta and the Northwest Territories.

http://www.albertalocalnews.com/reddeeradv...hin_months.html
 
Bower Place has no trouble filling Convergys space

Bower Place Shopping Centre is having no trouble finding new tenants to fill the space left by the departing Convergys call centre.

"We`re close to 50 per cent leased on the space," said mall manager Gary Seher on Monday. "We`ll have about 22 new stores."

Seher expects it will cost $10 million to $11 million to complete renovations that will see two new corridors created and another entrance added.

http://www.albertalocalnews.com/reddeeradv...rgys_space.html
 
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